Nghiên cứu ứng dụng lý thuyết người đại diện trong quản trị ngân hàng thương mại Việt Nam - 19


Ngân hàng

CGI HĐQT 2010

CGI HĐQT 2011

CGI HĐQT 2012

NHTM 22

14

13

12

NHTM 23

16

16

15

NHTM 24

14

14

14

NHTM 25

14

13

14

NHTM 26

14

17

14

NHTM 27

0

0

0

NHTM 28

19

19

19

NHTM 29

5

0

5

NHTM 30

6

6

11

NHTM 31

13

12

11

NHTM 32

12

12

11

NHTM 33

16

18

16

NHTM 34

14

14

16

NHTM 35

14

14

13

NHTM 36

13

16

15

NHTM 37

7

12

11

NHTM 38

1

8

10

NHTM 39

13

17

18

NHTM 40

4

4


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Nghiên cứu ứng dụng lý thuyết người đại diện trong quản trị ngân hàng thương mại Việt Nam - 19


Phụ lục 5. Kết quả giả thuyết 1A


Hồi quy giả thuyết 1 – trường hợp 1 (H1A)

Y = ß0 + ß1x1 + ß2x2 + ß3x3 + Ű

Y: Tỷ lệ thu nhập sau thuế/tổng tài sản (ROA) (Tính theo lợi nhuận sau thuế/tổng tài sản bình quân - %)

x1: Tỷ lệ sở hữu cổ phần của người điều hành

x2: Tỷ lệ vốn chủ sở hữu /tổng tài sản (Tỷ lệ giữa vốn chủ sở hữu/tổng tài sản tại thời điểm cuối năm - %)

x3: Tổng tài sản (Tính vào cuối năm, log tự nhiên)

Hồi quy gốc


Dependent Variable: ROA Method: Least Squares Date: 05/15/15 Time: 14:45 Sample (adjusted): 6 115

Included observations: 54 after adjustments


Variable

Coefficient

Std. Error t-Statistic

Prob.

X1DH

-2.267413

3.039800 -0.745909

0.4592

CAPITAL

0.030119

0.018159 1.658581

0.1035

LN_ASSETS

-0.022786

0.122129 -0.186576

0.8527

C

1.326153

2.353311 0.563527

0.5756

R-squared

0.129701

Mean dependent var

1.253333

Adjusted R-squared

0.077483

S.D. dependent var

0.786845

S.E. of regression

0.755746

Akaike info criterion

2.348965

Sum squared resid

28.55763

Schwarz criterion

2.496298

Log likelihood

-59.42207

Hannan-Quinn criter.

2.405786

F-statistic

2.483847

Durbin-Watson stat

1.687650

Prob(F-statistic)

0.071452




Hồi quy Log

Dependent Variable: LOG(ROA) Method: Least Squares

Date: 05/15/15 Time: 14:50 Sample (adjusted): 6 115

Included observations: 54 after adjustments

Variable

Coefficient

Std. Error t-Statistic

Prob.

LOG(X1DH)

-0.037666

0.042394 -0.888478

0.3785

LOG(CAPITAL)

0.438746

0.294753 1.488522

0.1429

LN_ASSETS

0.053804

0.132233 0.406891

0.6858

C

-2.172742

2.842239 -0.764447

0.4482

R-squared

0.109754

Mean dependent var

0.057470

Adjusted R-squared

0.056339

S.D. dependent var

0.629525

S.E. of regression

0.611534

Akaike info criterion

1.925496

Sum squared resid

18.69871

Schwarz criterion

2.072828

Log likelihood

-47.98838

Hannan-Quinn criter.

1.982316

F-statistic

2.054754

Durbin-Watson stat

1.412699

Prob(F-statistic)

0.118111




Phụ lục 6. Kết quả giải thuyết H1B

Hồi quy gốc

Dependent Variable: ROA Method: Least Squares Date: 05/15/15 Time: 14:47 Sample (adjusted): 6 115

Included observations: 62 after adjustments

Variable

Coefficient

Std. Error t-Statistic

Prob.

X1HDQT

-3.348663

1.130644 -2.961730

0.0044

CAPITAL

0.015412

0.016569 0.930183

0.3561

LN_ASSETS

-0.098512

0.111828 -0.880920

0.3820

C

3.088303

2.176845 1.418706

0.1613

R-squared

0.216105

Mean dependent var

1.263548

Adjusted R-squared

0.175559

S.D. dependent var

0.756961

S.E. of regression

0.687312

Akaike info criterion

2.150283

Sum squared resid

27.39903

Schwarz criterion

2.287517

Log likelihood

-62.65876

Hannan-Quinn criter.

2.204164

F-statistic

5.329829

Durbin-Watson stat

1.709089

Prob(F-statistic)

0.002596



SHB 2012

Hồi quy Log

Dependent Variable: LOG(ROA) Method: Least Squares

Date: 05/15/15 Time: 14:49 Sample (adjusted): 6 115

Included observations: 62 after adjustments

Variable

Coefficient

Std. Error t-Statistic

Prob.

LOG(X1HDQT)

-0.074422

0.029494 -2.523311

0.0144

LOG(CAPITAL)

0.205117

0.266358 0.770079

0.4444

LN_ASSETS

-0.053386

0.121254 -0.440286

0.6614

C

0.221431

2.642294 0.083803

0.9335

R-squared

0.177379

Mean dependent var

0.075333

Adjusted R-squared

0.134830

S.D. dependent var

0.611171

S.E. of regression

0.568478

Akaike info criterion

1.770633

Sum squared resid

18.74371

Schwarz criterion

1.907868

Log likelihood

-50.88963

Hannan-Quinn criter.

1.824515

F-statistic

4.168782

Durbin-Watson stat

1.356565

Prob(F-statistic)

0.009657




Bỏ biến ASSET

Dependent Variable: LOG(ROA) Method: Least Squares


Date: 05/15/15 Time: 14:52 Sample (adjusted): 6 115

Included observations: 62 after adjustments

Variable

Coefficient

Std. Error t-Statistic

Prob.

LOG(X1HDQT)

-0.067145

0.024260 -2.767665

0.0075

LOG(CAPITAL)

0.303221

0.144940 2.092046

0.0407

C

-0.930859

0.361232 -2.576898

0.0125

R-squared

0.174630

Mean dependent var

0.075333

Adjusted R-squared

0.146651

S.D. dependent var

0.611171

S.E. of regression

0.564581

Akaike info criterion

1.741712

Sum squared resid

18.80636

Schwarz criterion

1.844638

Log likelihood

-50.99307

Hannan-Quinn criter.

1.782123

F-statistic

6.241528

Durbin-Watson stat

1.371923

Prob(F-statistic)

0.003477




Kiểm định tự tương quan

Breusch-Godfrey Serial Correlation LM Test:

Obs*R-squared 0.000000 Prob. Chi-Square(2) 1.0000


Test Equation:

Dependent Variable: RESID Method: Least Squares Date: 05/15/15 Time: 14:52 Sample: 6 115

Included observations: 62

Presample and interior missing value lagged residuals set to zero.

Variable

Coefficient

Std. Error t-Statistic

Prob.

LOG(X1HDQT)

0.001494

0.026431 0.056533

0.9551

LOG(CAPITAL)

-0.007923

0.161507 -0.049056

0.9610

C

0.025376

0.383797 0.066119

0.9475

RESID(-1)

0.076567

0.171950 0.445287

0.6578

RESID(-2)

-0.074347

0.172838 -0.430151

0.6687

R-squared

-0.013787

Mean dependent var

5.37E-17

Adjusted R-squared

-0.084930

S.D. dependent var

0.555249

S.E. of regression

0.578347

Akaike info criterion

1.819921

Sum squared resid

19.06564

Schwarz criterion

1.991464

Log likelihood

-51.41754

Hannan-Quinn criter.

1.887273

Durbin-Watson stat

1.514057




Kiểm định phương sai sai số thay đổi

Heteroskedasticity Test: Breusch-Pagan-Godfrey

F-statistic

0.625811

Prob. F(2,59)

0.5383

Obs*R-squared

1.287941

Prob. Chi-Square(2)

0.5252

Scaled explained SS

2.721449

Prob. Chi-Square(2)

0.2565


Test Equation:

Dependent Variable: RESID^2 Method: Least Squares

Date: 05/15/15 Time: 14:53 Sample: 6 115

Included observations: 62


Kiểm định RAMSEY RESET

Ramsey RESET Test Equation: H1B

Specification: LOG(ROA) LOG(X1HDQT) LOG(CAPITAL) C

Omitted Variables: Squares of fitted values

Value df Probability


t-statistic

0.872483

58

0.3865

F-statistic

0.761227

(1, 58)

0.3865

Likelihood ratio

0.808432

1

0.3686

F-test summary:




Mean

Sum of Sq. df Squares

Test SSR

0.243628

1

0.243628

Restricted SSR

18.80636

59

0.318752

Unrestricted SSR

18.56273

58

0.320047

Unrestricted SSR

18.56273

58

0.320047

LR test summary:




Value df

Restricted LogL

-50.99307

59

Unrestricted LogL

-50.58885

58


Unrestricted Test Equation: Dependent Variable: LOG(ROA) Method: Least Squares

Date: 09/29/15 Time: 13:59 Sample: 6 115

Included observations: 62

Variable

Coefficient

Std. Error

t-Statistic

Prob.

LOG(X1HDQT)

-0.085683

0.032287

-2.653831

0.0103

LOG(CAPITAL)

0.407914

0.188392

2.165237

0.0345

C

-1.208833

0.482209

-2.506864

0.0150

FITTED^2

-0.706161

0.809369

-0.872483

0.3865



R-squared

0.185322

Mean dependent var

0.075333

Adjusted R-squared

0.143183

S.D. dependent var

0.611171

S.E. of regression

0.565727

Akaike info criterion

1.760931

Sum squared resid

18.56273

Schwarz criterion

1.898165

Log likelihood

-50.58885

Hannan-Quinn criter.

1.814812

F-statistic

4.397921

Durbin-Watson stat

1.341267

Prob(F-statistic)

0.007425




Phụ lục 7. Kết quả giả thuyết H1C

Hồi quy gốc

Dependent Variable: ROA Method: Least Squares Date: 05/15/15 Time: 14:54 Sample (adjusted): 6 115

Included observations: 54 after adjustments

Variable

Coefficient

Std. Error t-Statistic

Prob.

X1TONG

-2.675752

1.053914 -2.538872

0.0143

CAPITAL

0.015653

0.018170 0.861450

0.3931

LN_ASSETS

-0.106604

0.120625 -0.883766

0.3811

C

3.216147

2.358897 1.363412

0.1789

R-squared

0.220507

Mean dependent var

1.253333

Adjusted R-squared

0.173738

S.D. dependent var

0.786845

S.E. of regression

0.715234

Akaike info criterion

2.238772

Sum squared resid

25.57796

Schwarz criterion

2.386105

Log likelihood

-56.44685

Hannan-Quinn criter.

2.295593

F-statistic

4.714759

Durbin-Watson stat

1.729500

Prob(F-statistic)

0.005648




Hồi quy log

Dependent Variable: LOG(ROA) Method: Least Squares

Date: 05/15/15 Time: 14:54 Sample (adjusted): 6 115

Included observations: 54 after adjustments

Variable

Coefficient

Std. Error t-Statistic

Prob.

LOG(X1TONG)

-0.085841

0.039610 -2.167150

0.0350

LOG(CAPITAL)

0.186434

0.306741 0.607789

0.5461

LN_ASSETS

-0.073941

0.139774 -0.529005

0.5991

C

0.610779

3.048749 0.200337

0.8420

R-squared

0.173347

Mean dependent var

0.057470

Adjusted R-squared

0.123748

S.D. dependent var

0.629525

S.E. of regression

0.589288

Akaike info criterion

1.851383

Sum squared resid

17.36300

Schwarz criterion

1.998715

Log likelihood

-45.98733

Hannan-Quinn criter.

1.908203

F-statistic

3.494963

Durbin-Watson stat

1.344851

Prob(F-statistic)

0.022175



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